OptimizeRx (NASDAQ:OPRX) Price Target Lowered to $8.00 at JMP Securities

OptimizeRx (NASDAQ:OPRX) had its price target reduced by JMP Securities from $16.00 to $8.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price target points to a potential upside of 109.15% from the stock’s previous close.

Several other equities analysts have also commented on the company. Barclays reduced their price target on OptimizeRx from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, August 12th. B. Riley assumed coverage on shares of OptimizeRx in a research note on Thursday, July 25th. They set a “buy” rating and a $18.50 price target on the stock. Finally, Royal Bank of Canada decreased their price objective on shares of OptimizeRx from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, August 16th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.42.

OptimizeRx Trading Down 5.8 %

NASDAQ:OPRX opened at $3.83 on Thursday. The business’s 50-day moving average is $6.60 and its two-hundred day moving average is $8.99. The firm has a market capitalization of $70.07 million, a PE ratio of -2.88 and a beta of 1.32. OptimizeRx has a 12 month low of $3.78 and a 12 month high of $16.65. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.07 and a quick ratio of 3.07.

Institutional Investors Weigh In On OptimizeRx

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bullseye Asset Management LLC grew its stake in OptimizeRx by 55.6% in the third quarter. Bullseye Asset Management LLC now owns 214,046 shares of the company’s stock worth $1,652,000 after purchasing an additional 76,458 shares in the last quarter. Barclays PLC increased its holdings in shares of OptimizeRx by 358.5% in the 3rd quarter. Barclays PLC now owns 26,934 shares of the company’s stock valued at $208,000 after acquiring an additional 21,060 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of OptimizeRx by 189.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock valued at $28,000 after acquiring an additional 2,414 shares in the last quarter. Quest Partners LLC raised its position in shares of OptimizeRx by 15,965.6% during the 3rd quarter. Quest Partners LLC now owns 9,800 shares of the company’s stock valued at $76,000 after acquiring an additional 9,739 shares in the last quarter. Finally, Greenwood Capital Associates LLC lifted its stake in OptimizeRx by 8.0% during the third quarter. Greenwood Capital Associates LLC now owns 67,356 shares of the company’s stock worth $520,000 after purchasing an additional 4,999 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

OptimizeRx Company Profile

OptimizeRx Corporation, a digital health technology company, enables care-focused engagement between life sciences organizations, healthcare providers, and patients at critical junctures throughout the patient care journey. It offers various tech-enabled marketing solutions through its Artificial Intelligence-generated Dynamic Audience and Activation Platform, which enables customers to execute traditional marketing campaigns on its proprietary digital point-of-care network, as well as dynamic marketing campaigns that optimize audiences in real time to increase the value of treatment information for healthcare professionals and patients in response to clinical care events.